CIBT Engages INTL FCStone for Project Financing
November 5th, 2014: CIBT Education Group Inc. (TSX:MBA, OTCQX International: MBAIF) (“CIBT Group”) is pleased to announce that it has engaged INTL FCStone Securities Inc. (“INTL FCStone”), member FINRA/SIPC/ MSRB to identify institutional real estate investors to arrange project financing, and to provide investment banking and financial advisory services. CIBT Group is contemplating total project-level equity financing of approximately US$100 million. The purpose of the financial advisory services is to assist CIBT Group in expanding its network and financial resources, and to assist CIBT Group in developing a series of education themed real estate projects including the Education Super Center and over a dozen rental apartments and student centric hotels for foreign students and IT workers. The total size of CIBT Group’s Global Education City project is projected to reach $0.5 billion within 3 years which is equivalent to 5,000 rental beds throughout Metro Vancouver.
“This contract is intended to provide additional financing for our portfolio of education themed real estate projects, allowing us to focus on our core businesses,” commented Toby Chu, President, Chief Executive Officer and Vice Chairman of CIBT Education Group Inc. “Working with INTL FCStone, we are one step closer to our vision of providing convenient and affordable housings for international students, while improving CIBT Group’s services, enhancing students’ experiences, and increasing value for our shareholders”.
About INTL FCStone:
INTL FCStone Inc., the parent company of INTL FCStone Securities Inc., is a Fortune 500 financial services firm (ranked #66 in 2014) specializing in commodity trading in addition to foreign currency exchange and treasury services, OTC securities execution and asset management. Headquartered in New York City, USA, INTL FCStone Inc. and its subsidiaries serve more than 100,000 customers through a network of 30 offices in 13 countries employing over 1,100 employees. Customer, non-securities related, assets managed by subsidiaries of INTL FCStone Inc. totaled $1.7 billion and traded $68 billion of physical commodities in 2014. INTL FCStone Securities Inc was ranked as the #1 Market Maker in over 2,100 Securities in 2013, and was ranked 4th in Market Maker Volume.
INTL FCStone Securities Inc. provides financial services to its clients from across the globe with a comprehensive range of customized advisory and capital raising services.
About CIBT Education Group:
CIBT Education Group Inc. is an education management company focused on the global education market since 1994. Listed in Canada on the Toronto Stock Exchange and in the U.S on the OTCQX International, CIBT Group owns and operates a network of business, technical and language colleges in North America and Asia. CIBT Group offers cooperative joint programs in 12 countries with campuses, recruitment offices and training centers enrolling over 6,500 students annually. Its education business is operated through Sprott Shaw College (established in 1903), Acsenda School of Management, CIBT School of Business China, and Global Education Alliance Recruitment Centers in China and other overseas countries. Through these subsidiaries, CIBT Group offers Western and Chinese accredited business and management degrees, programs in college preparation, healthcare, hotel management and tourism, English language training, English Teacher Certifications, junior and high school preparation programs for overseas study, and other career/vocational training. CIBT Group also owns Irix Design Group, a leading design and advertising company based in Vancouver, Canada, Global Education Alliance (“GEA”) and Global Education City Holdings Inc. (“GEC”). GEA recruits international students for many elite kindergarten, primary, secondary schools and universities in North America. GEC is an investment holding and management company with a special focus on education related real estate projects in Canada. Visit us online at www.cibt.net.
For more information contact:
Toby Chu
Vice-Chairman, President & CEO
CIBT Education Group Inc.
Investor Relations Contact:1-604-871-9909 extension 318 | Email: info@cibt.net